Wednesday, July 15, 2015

New private-home sales slump 42% from May

SINGAPORE — Sales of new private homes extended their slide in June as buyers remained selective and developers refrained from launching new projects during the mid-year school holidays.

Developers sold 375 units last month, down 42 per cent from the 643 homes sold in May and a 22 per cent decline from the 482 units sold in June last year, data from the Urban Redevelopment Authority showed today.

The lackluster sales came as developers launched just 219 new units in June, as compared with 500 units the previous month.

The best-selling project in June was Botanique at Bartley in Upper Paya Lebar Road, with 59 units sold at a median price of S$1,301 per square foot (psf), bringing the total number of units sold to 403 units.

Second-place was a tie between two projects - Lakeville at Jurong Lake Link and The Panorama at Ang Mo Kio Avenue 2. Developers sold 25 units each at both the projects at a median price of S$1,320 psf and S$1,231 psf, bringing the total units sold to 497 at Jurong Lake Link and 450 at The Panorama respectively.

The Executive Condominiums segment saw 110 units sold last month, down from the 210 units sold in May.